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Mad Money

News/Business. (2012)

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China 15, Cramer 11, Florida 7, Jim 7, Europe 4, Us 4, Kimco 3, Aig 3, Nike 3, New York City 3, U.s. 3, New Jersey 2, Massmutual 2, Howard Schultz 2, Lockheed Martin 2, Mickey 2, United Health Group 2, Exxon 2, Devon 2, Maryland 2,
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  CNBC    Mad Money    News/Business.  (2012)  

    November 1, 2012
    11:00 - 12:00am EDT  

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entire nation as federal money and private insurance starts paying off and construction comes back with a vengeance. auto and home industries are coming back with more confidence than ever. and there is real hope in the air that tomorrow's big employment report might show some nice gains. the jobs report were a tad better than expected. that said, the upward move we saw in many big cap stocks today, particularly in the industrials and techs, cannot be traced to anything happening here. no, not at all. these gains were all about one piece of data out of china. and not anything else you heard about why these stocks moved is wrong. we got these moves in stocks from fedex and the freight transporter into a mining and
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equipment manufacturer. because a chinese purchaser's report came in at 50.2, up from 49.8 the previous month. how the heck can an increase in some index out of china amount to a hill of beans for any company? aren't these companies after all located here? yes, yes. it's true that the u.s. matters. but let me use this rally today to help you understand the world of expectations. not reality. not reality at all, but expectations. >> house of pleasure. >> and how do expectations matter so much more than what has already happened? we're in the midst of earnings season. the bulk of industrial technology concerns are already reported. the first was that the united states was holding its own. maybe getting a little better.
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powerful consumer spend. the fiscal cliff looming but still the positive. second was that europe's a disaster and the most important thing you can do is distance yourself from the continent. ask companies like alcoa and ford. the third, that china had become a big disappointment. yeah, china. and it wasn't going to turn around any time soon. certainly not in time to help 2012. this pessimism came from a decline in orders. they all articulated such on a recent conference call. companies that have been optimistic that china was about to turn, that the growth was about to kick in collectively seemed to give up all at once on
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the colossus. nobody had been more upbeat than caterpillar. but you know what it did? it threw in the terrible towel. openly bemoaning the disappointment that was china in 2012. gut wrenching. now fast forward to earlier this morning and let me make this thing up close and personal. new york city mayor mike bloomberg decided yesterday you needed three people in your car to cross over the east river to get from manhattan to brooklyn. you can beat the edict if you crossed over before 6:00 a.m. i set off to find some place to get internet access, electricity and a little wireless. it was a gloomy morning. i first tried the new york stock exchange. they had electricity but that was it. so i started the trek north to
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where i could get back on the grid. i walked a block, then two. we came upon zucotti park, the site of occupy wall street. i got three bars on the iphone and four bars on the verizon air card and a guy selling hot coffee. maybe those occupiers were precursors to the walking dead post apocalyptic world of scant resources that was lower manhattan. the surprise came from the chinese purchasing managers number. a string of disappointing figures from the totally moribund economy. but we didn't get it. you got your first chinese guide up, not guide down. the best of the year. this was just joyous. no one was looking for this. suddenly i didn't care. here was a number that didn't fit into the near universally saturnine thesis.
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the ceo of joy global came on our show last month brandishing data showing that chinese electric output bottomed and is coming up. it is coming roaring back. that's why you saw the gains you did today. the biggest industrial is cummins, the engine maker. they rallied $5.17 today, that's up a dozen points. how about nike? bemoaned performance in china, up $3.97 today. freeport, the copper company looked like it had been sliding back during the darker days suddenly lunged $1.62. how about eaton? that company lowered expectations in part due to china. it is now up $4. someone asked jim cramer on twitter, accused me of hyping the stock by saying that i thought it would go up. and then there is peabody
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energy. it was recommended to buy coal stocks aggressively because of the chart. i have been and remain conservative. it could be crushed by president obama. china is the growth market for peabody. big coal company. closed $29.28. it's been a remarkable run. the weirdest rally is tech. we have seen so many disappointments in tech, we forget how much of tech goes into china. huge market. so let's just say it was enough to reverse the trend of all of those stocks. they moved higher. it was as if they reported better, not worse than expected earnings. china provided the change at the margin to make this rally happen. china, not the u.s., which everyone knows is okay, and europe is getting much worse. when you get a number that breaks the fall of a huge economy like the one we got from
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china i i read about in zucotti park this morning, it spells growth. that's what we got. in return, so many of the industrial and tech stocks that had looked like ugly ducklings turned into beautiful swans -- white ones at that. i don't expect them to revert to their hideous stature. the first in a long line of positive numbers. let's go to george in virginia. >> caller: hello jim. i've got some biomed. it had good earnings today but it took a beating. should i hold it or sell it? >> all right. we have to -- this reminds me. we have to have to have to have the ceo back on it. i did not understand how bad this could be and i just -- it was breathtaking. this was today's western union. they faced some sort of advisory panel review. some sort of investigation. we need the company to come out and tell us their side of the story. rick in florida, please. rick?
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>> caller: hey, jim, how are you? a big boo-yah from miami. >> the w. love it. >> caller: my company, cirrus logic. they reported their earnings yesterday. they are doing good. what do you think? >> this is one where as i mentioned the over day, the time to buy cirrus logic was when everybody hated it. this is just typically a situation of a stock that has run too much in anticipation of pretty decent earnings and they got pretty decent earnings and that's never enough after you run. let's go to michael in florida. >> caller: boo boo boo-yah! love love love the show. >> thank you very much. >> caller: all right. my question. insiders are holding over 55%. they beat the analyst estimate seven to eight quarters since the ipo. obviously it's overbought.
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when do you think there will be a pull back? >> i'm up close and personal. my sister called me today and told me to buy it. con ed finally visited. he said why don't you own any shares in generac. i think you're right. it's overbought. there is a new change in this country and the change is that we expect a one in a hundred year storm seems to happen every year. and then, buy! >> china helped today. maybe they are roaring back. maybe we are, too. "mad money" will be right back. >> coming up, supply and demand? the lines at gas stations across the east coast are a painful reminder of our dependence on gasoline. what better time to talk about america's domestic supply of nat gas? a storage play got crushed by the street after reporting, but is this your chance to fill up?
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cramer's drilling down with the ceo in an earnings exclusive. and later, the market may have traded higher today, but after a slew of disappointing reports, there is plenty of pessimism on wall street. cramer is looking beyond the doom and gloom. >> holiday rush? clean up continues as retailers get ready for the busiest shopping season of the year. cramer is seeing if they could be a gift to your portfolio. don't miss this exclusive with the ceo of shopping center reit kimco realty, all coming up on "mad money." >> don't miss a second of "mad money." follow @jimcramer on twitter. tweet cramer #madtweets. send him an e-mail or give us a call at 1-800-743-cnbc. miss something?
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head to madmoney.cnbc.com. ♪ ♪ ♪ [ male announcer ] don't just reject convention. drown it out. introducing the all-new 2013 lexus ls f sport. an entirely new pursuit.
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if we want to improveall-new 2013 lexus ls f sport. our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this.
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>> with the price of oil inching back up and people all over the
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northeast unable to buy gasoline. the only way to get opec's boot off our neck and break our addiction to foreign oil is by embracing cheap, clean, and plentiful natural gas. oil we import is used to make diesel fuel for trucks. we're well on our way to energy self sufficiency. that's the only realistic way to do it. the rest of the world is for the stuff and we're building up terminals that could be building up in a few years. export terminal. either way we need chart industries. the cryogenics company that makes the highly engineered equipment which is used to turn natural gas into liquefied natural gas.
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they make the tanks to store it. we have been behind the stock for a long time. chart reported disappointing results. company posted an eight cent earnings miss. beat revenues that rose 23% year-over-year. and the international side had some difficulty. the short term, we have got to take a closer look. let's talk to samuel thomas. welcome back to "mad money". >> hi, jim. how are you sir? >> great. i know you came up from haddonfield, new jersey. we have got long gasoline lines. there is no competitor to gasoline in this country to speak of. if we had a competitor and it was like this, would we have the jam we're in right now? >> well, i think we would be a lot better off using natural gas. we wouldn't be importing so much oil. as far as the problems here in
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northern new jersey, that's more an issue of power failure. >> but there was a refinery issue. without taking it from domestic we can't get the stuff here without taking it from domestic ships. then it would ease that product. >> it absolutely would. natural gas is plentiful. we feel very confident it's coming. as you saw today with our disappointment in earnings expectations, it's taking longer than many of us would like. that's because it's a complex issue of providing the supply of liquid natural gas and also having the vehicles on the road which can use it.
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>> i have a big fleet of trucks, i would love to convert if i knew there were gas stations all over the country. and the gas station people would love to build more gas stations for nat gas if they knew there were a lot of trucks. natural gas trucks. >> i think we have gotten past that. everybody, both the chickens and the eggs are ready to do their bit. what's challenging is how do you ramp it up so that you don't have trucks waiting that you can't use because there is no fuel available and if you're building fuel stations, you want to make sure this customer is for it as soon as it happens. one of the things i have said is we have to understand how long it takes to actually build out infrastructure like this. when the oil companies and the automakers were forced to work together to improve emission standards, the fastest those changes could be made was over a 10-year roll in period. we really can't expect
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significant penetration without a staged roll in over a ten year period. we can't fix this in one or two years. steps are being made. >> i hope that what would get rid of the worries was this biomedical division. that seemed to be the secular growth story. you'e got european exposure and medical is in jeopardy over there. >> it is. and that's really not a problem. we simply have a consolidation going on in this industry. the home health care providers both here and in europe are under a lot of pressure because health care is becoming a huge part of everybody's gdp. so there is lots of efforts to slow down that growth. one of the ways is to cut back reimbursement and effectively force consolidation of the industry. we anticipated that with our acquisition of both air sap and
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seqal because concentrators are a lower cost form of delivered oxygen. what we didn't anticipate is how much how people would pull back the home health care providers while they wait for the results of competitive bidding. >> i know i personally thought that cheniere would be the beginning of multiple export terminals. that hurts the long term story if they're the only one. >> it does but i don't think we have the natural gas to have more than one export terminal. there are several more that are very hopeful they will get approved. i think that the studies which have been done, the preliminary copies of the studies that the doe was doing said that it wouldn't dramatically affect the price of natural gas in the u.s. politically it's a no win prior to the election. >> right. >> so we're not going to have a
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decision before the election. >> it sounds like to me that these are all just temporarily on hold. because the trend is definitely chart's friend. >> but right now we have got a great growth story. we are a key supplier for an industry that will grow dramatically. the future, i will try to avoid the misses. >> fair enough. >> i know that it will go over the trend if that's the case. sam thomas, chairman, president, and ceo of chart industries. gas to liquid. stay with cramer. >> coming up, a party? the market has traded higher today, but after a slew of disappointing reports there is plenty of pessimism on wall street. cramer is looking beyond the doom and gloom. clean up continues as retailers get ready for the busiest shopping season of the year.
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cramer is seeing if they can be a gift to your portfolio. don't miss his exclusive with the ceo of kimco all coming up on mad money.
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>> you know what has been a real sucker trade? being gloomy about retail.
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thinking back to last night's interview with the ceo of pvh, remember, the same time he announced that deal, he put it out to october. a statement that is incredible given the business. a whole host of different price points, dominating department stores. whole departments. we heard endlessly that october was not a strong month in the economy. we know it from the tech companies. but you know who we don't know it from? the consumer. the consumer is remarkable in this country whether it be homes or cars or shirts or sweaters, the consumer spending beyond what anyone seems to think possible. numbers from nike or disappointment from deckers, you
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are drawing the wrong conclusions to the other ones. hedge funds are corrosive across the board thinking. all they do is think that it is just from one pin to another. there isn't that kind of pin action. they don't think hmm, coach is taking its eye off the ball. instead they short every single department store. they don't say a ha, nike is charging too much in china. they say footwear is awful everywhere. they don't think that ugg has peaked. they think that stores that carry uggs have stopped ringing up big sales. they just bet against every other apparel company out there, which brings me to pvh. you know a stock doesn't go up 20% because you bump numbers by 30 cents. the calvin klein jeans and
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underwear licensing. so many hedge funds have been shorting it. they figured how can they lose if the analogs for shoe and handbags. when they do get the exclusion right, people will flock right back to their stocks. the extrapolation of weakness from the weaker reporting apparel and store chains never seems to stop. the vast majority of active trigger pulling hedge funds can't get their arms around the idea that the consumeer is alive and well. these guys seem shocked when ever something good occurs. they just can't accept it. they are constantly fearing and betting on the worst happening. ladies and gentlemen, gloom is not a strategy.
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it is a feeling. and the feeling has not been actual no matter how many times people try to shoe horn it into their thinking about the stock market. here is the is the bottom line. before you get too negative, remember the run in pvh. sometimes the big money is made by optimism, not pessimism. when it comes to american retail spending. andrew in florida? andrew? >> caller: professor cramer, i have a delightful south florida boo-yah for you. >> i'm giving you a sunshine boo-yah right back. >> caller: i'm holding shares of michael kors. you said i like kors because in the end the market always circles back and there is only a handful of them left. we're heading into the holiday season. is kors one of the remaining few? >> you bet it is.
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i was talking to mr. tanger from tanger outlets. they are a good customer and they are doing incredibly well in europe. don't sell kors, buy it. bob in florida. bob. everybody is in a nicer area than i am. boo-yah. >> caller: earnings this morning. este lauder came out with earnings. it sold off quite a bit and then bounced back up. at the end it sold off again when the market was rallying. >> it has become a very problematic situation. i feel like it is just okay. there is no real edge to estee. there are others that i like in a similar position. i'm not going to go there and recommend the stock. david in georgia? >> jim, boo-yah. >> boo-yah. >> caller: true religion
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apparels. they reported earnings on the fifth. they make $300 pair of jeans. >> it's done. we're looking for greener pastures. that trade is over. find the next pvh. find the next tru religion. whether you're a fashionista like i am -- you like that? you know that retail is back on track. you just need to find companies like pvh that can execute well. that's the ticket. don't move. lightning round is next. if we we our schools... ... what should we invest in? maybe new buildings? what about updated equipment?
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they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. i'm an expert on softball. and tea parties. i'll have more awkward conversations than i'm equipped for because i'm raising two girls on my own. i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. massmutual is owned by our policyholders so they matter most to us. massmutual. we'll help you get there.
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we're getting ready for our veterans' day show. we still have got some tickets left. if you would like to join me and special guests next friday here in the studio, head to madmoneycnbc.com for free tickets. now it's time for the lightning round. >> buy, buy, buy. >> i will play this sound and then the lightning round is over.
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are you ready skeedaddy? time for the lightning round starting with nadine in new jersey. >> lower east side boo-yah. dunkin donuts. >> it will climb because howard schultz declared the end of the coffee wars. buy. let's go to lorraine in pennsylvania. >> caller: hi, jim. love your show. >> thank you. >> caller: bought yahoo! at $15.94. >> hold on to yahoo!. this new ceo finally has game. yahoo! has finally got game. she's got horse sense. ernie in california. >> caller: from sunnyvale, calling about netflix.
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>> reid hastings not too happy. here is my take. i think netflix is a sell sell sell. i think this is going to be a lot more like clorrox where he called the top, not the bottom. clorox has creeped up. let's go carlos in florida. >> caller: cramer, how you doing? >> real good. >> caller: very good. i got bioreference laboratories. >> i have always liked that company. reminds me very much of the pick and shovel business. i think it should be bought this week. frank in maryland. >> caller: boo-yah, jim. i'm calling about hcbk. >> it's taken over. it's done. already been done. let's go aaron in washington. aaron? >> caller: hi, jim. how you doing? >> okay. how about you? >> caller: you're my kind of crazy and i love your show.
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i know you dislike what i bought. i was wondering what you currently have views for. a high depth company and the possibility of a buy out with albertsons. >> i think that the company has tremendous source. it just has too much dead. if you refinance the debt you would do better. but i don't think you will get a take-over bid with a substantial premium. you can hold on to it but i'm not looking for anything big on it. chad in hawaii. >> caller: boo-yah jim. great speaking with you again today. >> i like it, too. >> caller: my question is about the copper company co. >> yep. i like icaris. allergan did very well. you have a two for one here. i like cooper very much. i think it's a buy. i want to go to tom in maryland. >> caller: big boo-yah from ravens town. >> listen, i just dropped the kicker. i picked up a kicker from new england.
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what's up? >> caller: i just want to ask you about m&t bank. >> i like that. doing really good. the best reporting bank stock that i saw. don't forget this outfit is conservative and that's what matters. can i speak to gary in north carolina? >> caller: how you doing, jim? >> real good. >> caller: should i sell bwa? >> no, no, no, no. buy, buy, buy! i like the auto business. i don't want to back away from it. i say stay long. let's go mickey in michigan. mickey? >> caller: jimmy, wolvering boo-yah to ya from michigan man. >> what's going on, megatron? >> caller: way too high. compare with discover financial. >> i agree with you.
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i bumped into a member of the board of directors when i was up visiting my daughter in boston. i said man, you got a rocketship . and that, ladies and gentlemen, is the conclusion of the lightning round. >> the lightning round is sponsored by td ameritrade. coming up, holiday rush. cleanup continues. getting ready for the busiest shopping season of the year. don't miss this exclusive with the ceo of shopping center reit kimco realty. >> i want to give you a black knight combat boo-yah. >> high flying united states air force blue-ya. >> thank you for serving. love the military. everybody calls from it. we got to have them on this show. boo-yah back at you. >> this veteran's day, "mad money" salutes those who defend our country's freedoms by helping to defend their financial futures.
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if you or someone in your family is proudly serving or has served in america's armed forces, we invite you to join our live studio audience for "mad money". for tickets go to for tickets go to madmoney.cnbc.com. bing everest,
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>> kimco realty, a real estate investment trust that owns and operates the largest neighborhood and community shopping centers in north america. will pay you a bountiful yield. reported a terrific quarter. funds from operations, that's the reit equivalent of earnings. revenues were higher than expected, plus kimco gave upside guidance for the full year. increased from the previous quarter to 93.5%. i think that's insane.
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some analysts say listen, it wasn't what we were looking for. it wasn't what i was looking for. let's check in with david henrys. find out more about the quarter and where his company is headed. some of the analysts are slow to catch up to the revolution of kimco. why don't you catch us up to date? last time you still had real estate property. a lot has happened from the last time you were here. >> we think you are having a full solid year this year. up 4% to 5% per share. it is a good earnings record. and it's consistent. we raised our dividend 10.5%. >> more than the average. >> as you know we have one of the lowest payout ratios in the industry.
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the shopping center industry is leasing spread. effective rent. are all flashing green light right now. the industry itself is recovering nicely. for the first time in a long time we are seeing the small shop occupancy go up. >> you also announced the execution agreement with in town suites. that was something i didn't want to do in your book of business. so that's good that it's gone. >> we started with a billion two of non-shopping center assets. i tha is now down to about 400 million dollars. less than 3% of total assets are now not shopping centers.
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>> they are all between 98 and 100 -- 99%. i think that it is actually this stage a good thing to get into one. you got a lot more room. >> i would agree with you. there is some upside there. >> there is also the question of the quality. you are getting out of what you own, what you describe in this as lower quality shopping centers and into higher quality. what does a lower quality shopping center look like versus a higher quality? >> we are recycling and trying to upgrade our portfolio. in general, lower quality means secondary markets, perhaps lower quality tenant base. they are shopping centers above market rents in secondary areas. as we look at our portfolio we have more than 900 shopping centers we identify the ones that we don't think will.
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growth and try to sell them. new york city metro area, we have more than 70 shopping centers in this area. this is a great primary growth area for us. >> you have not been hurt by the hurricane other than awning damage and peripheral damage? >> that's true. in general, neighborhood shopping centers are holding up very well. most of the larger tenants have generators. >> i like to use companies such as yours to be able to get a barometer of the country. you say at the opening of your comments that national retailers are pursuing -- are again pursuing aggressive expansion plans. i deal with one company at a time. sounds like many want to go back into expansion mode again. >> especially value oriented and discount oriented retailers. they are opening 50, 100 stores a year and they start to worry
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about where to get that space because there is virtually no new construction. there is no new supply. population is still growing. >> it was only a few years ago that we had dramatic overexpansion. >> it cycles. >> you do have some exposure to an industry that i'm worried about. supermarkets. i'm a big backer of whole foods. i think they are doing a remarkable job. trader joe's is doing a remarkable job. it hurt all the other operators. do you monitor your exposure to that group? >> i think it's fair to say that the grocery industry is a fair margin. and everybody under the sun is selling groceries. dollar stores and warehouse clubs. there are winners like whole foods, heb, and publix.
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when we buy shopping centers or look at shopping centers to sell, we look at the grocery anchor. if it's above market rents or if it is struggling, we try to concentrate on more whole foods centers. >> sounds like you're moving up. i like the fact that you have a lot more room at a time when people are running out of room. it's been a great performer. we understand that. maybe people are catching up to the better than expected story. i wasn't aware of it myself. congratulations. congratulations. you know how much i like yield and growth. mad money is back after the break. >> coming up, how do your stocks stack up in this mystifying market? cramer makes sure your portfolio makes the grade.
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>> as we begin to wrap up this unusual week for the markets, we can't forget home work and diversification to make sure that portfolios are protected. that's why we're playing am i diversified. this is where you call me and tell me your top five holdings. i tell you if your portfolio is diversified. maybe you need to mix it up a little. we have had an influx of callers asking whether their portfolio is up to the diversified test.
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let's start with oni in new york. oni? >> caller: hey, jim. big boo-yah to you from new york city. >> i hope everything is well for you and your family. >> caller: we're lucky enough to have power and watch the 76ers beat the nuggets. >> you have the edge on me. go ahead. >> caller: we have exxon, sprint, united health group, walmart, and bis. >> wow. i like this portfolio so much i'm kind of stunned by it. exxon reported an okay number. it's good to have oil. sprint is a nice spec stock. the stock could be knocked down after the exchange offer that they're doing with soft bank. don't freak out. walmart down today. people are starting to leave the low end retailers. walmart is good. united health group are big winners under obamacare.
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and disney acquisition of lucasfilms is brilliant. we have health care, oil, retail, that's what i'm doing. that's what i'm looking for. that is perfection. michael in florida, please? >> caller: boo-yah, cramer, from florida state university. >> fsu, go noles. doak campbell, you and me and a couple of beers. >> caller: visa, itc, enterprise product partners, lockheed martin and aig. >> really interesting. that's a very interesting portfolio. i just want to be sure. i'm trying to come up with an average yield in my head of what we have got there. all right all right all right. okay, so we have got visa which we know is not a financial. that is a paper to plastic play. itc, that's a regular utility.
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it's got not as big a yield as i thought. lockheed martin. a defense. aig reported tonight. be aware, that is a big position for my charitable trust. and enterprise product partners which i wish was a position that has done a fantastic job. we have insurance company, we have a check to credit card play. utility and defense company. some might think that aig is too much like visa, that someone would be wrong. go to b.t. in colorado. >> caller: a great sand dunes national park boo-yah to ya. >> i'll give you a nuggets lost to sixers boo-yah. >> caller: my portfolio is diversified.
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gld, boeing, ebay, devon energy, and abbot labs. >> ooh. action alert names there. before i get to the gld, may i tell you why i like it so much? barrick gold, many people think it's the best gold company. that stock is down 10% because they didn't do a good job digging up gold. you own gold and then you're a loser. that's not what i want. let's go to work. abbott is a great pharmaceutical. ebay, that's paypal. we like that. boeing, aerospace, i'm shocked this stock is at $71. i'm not crazy about devon. they better not disappoint. we have gold, nat gas, aerospace, finance and drug. let's call it finance and drug. that, again, is perfection. how about our contestants today. they'll all winners. stay with cramer.
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>> i want to give you a black knight combat boo-yah to ya. >> big navy boo-yah. high flighting united states air force blue-ya. >> i'm sending you back a thank you for serving. we have got to have them on this show. boo-yah back at you. >> this veteran's day, "mad money" salutes those who defend our country's freedoms by helping to defend their financial futures. if you or someone in your family is proudly serving or has served, we invite you to join our live studio audience for "mad money." for tickets, go to madmoney.cnbc.com.
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>> all right. two very big very high profile positive numbers. starbucks, that's right. which is had been a downturn, some recommended selling, howard schultz saying we're back an raising 2013 numbers. charitable trust name priceline, that has been the barometer of what people like to buy in this market and it reported a blowout quarter. i think that's positive.

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